Stress causes cancer? How can insurance protect you?
Stress could cause critical illness. If we are unprepared, we might have to use up our savings to pay for limited treatment options. How can insurance help minimise the financial impact of a serious illness?
Raymond and Bonnie are a young couple who have been married for five years. Raymond, 40, owns a logistics business that is doing well but faces a lot of competition. Bonnie is a 25-year-old jewellery salesperson. Since her job requires her to meet ever-higher sales targets and work shifts, she’s worried that she is at a higher risk of critical illness. If expensive treatments are ever needed, her husband Raymond’s unstable income might not be enough to cover the costs as well as their mortgage. That’s why she has chosen a savings insurance that also offers critical illness protection.
Raymond and Bonnie are a young couple who have been married for five years. Raymond, 40, owns a logistics business that is doing well but faces a lot of competition. Bonnie is a 25-year-old jewellery salesperson. Since her job requires her to meet ever-higher sales targets and work shifts, she’s worried that she is at a higher risk of critical illness. If expensive treatments are ever needed, her husband Raymond’s unstable income might not be enough to cover the costs as well as their mortgage. That’s why she has chosen a savings insurance that also offers critical illness protection.
When she is 35, Bonnie is diagnosed with late-stage breast cancer during a routine mammogram. The two scenarios below compare the hypothetical, contrasting consequences of having and not having insurance protection in her case:
HSBC Health Goal Insurance Plan offers comprehensive solutions that cover both wealth management and health protection needs. Please visit any HSBC branch or contact your HSBC Relationship Manager for more details and an in-depth financial assessment.
Source:
- Hong Kong Breast Cancer Foundation’s database
- HK01: After battling breast cancer for 10 years and a failed marriage, single mother with $100 left relies on injections to stay alive and take care of her young son and sick mother.
Assumptions:
- All premiums are paid in full when due during the premium payment period.
Notes:
- Potential return is calculated in the 30th policy year based on the present projected rate of return on investment, including special bonuses. The amount is non-guaranteed and can be higher or lower than those given in the examples. Return levels are for reference only and not guaranteed. Policies’ returns vary.
- Please see product brochures and policy provisions for the terms, conditions and exclusions.
- The figures given above are hypothetical and for illustrative purposes only. They have been rounded off to the nearest ten thousand. Please see product brochures and policy provisions for the terms, conditions and exclusions.
- The expenses for travelling to the US are borne by the customer.
- The actual amounts of the premiums are decided at the discretion of the Company.
- The exchange rate between USD and HKD is based on the linked exchange rate (1:7.8).
- HSBC Health Goal Insurance Plan is not a bank deposit or bank savings plan but a whole life insurance plan with a savings element underwritten by HSBC Life (International) Limited ("HSBC Life") which is authorised and regulated by the Insurance Authority ("IA") to carry on long-term insurance business in the Hong Kong SAR. Policyholders are subject to HSBC Life's credit risk and may incur a loss in the event of early surrender.
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Disclaimer
The information contained in this article is for general reference only and is not intended to constitute a recommendation or advice to any person or to be the basis for any financial decision. No person should act on any information in the article without seeking professional advice.
The information contained in this article does not constitute an offer for the purchase or sale of any banking or insurance products or services. Products and services are subject to individual needs. Contact your financial planner to review your financial needs and risk acceptance level. This article should not be reproduced or further distributed to any person or entity, whether in whole or in part, for any purpose.
HSBC Life has based this article on information obtained from sources it believes to be reliable, but which it has not independently verified. HSBC Life and HSBC makes no guarantees, representations or warranties and accepts no responsibility or liability as to its accuracy or completeness. Information in this article is subject to change without notice.
HSBC Life is authorised and regulated by the Insurance Authority to carry on long-term insurance business in the Hong Kong SAR. HSBC Life is incorporated in Bermuda with limited liability, and is one of the HSBC Group’s insurance underwriting subsidiaries. Insurance products provided by HSBC Life are only intended for sale through HSBC in the Hong Kong SAR. Policyholders are subject to credit risk of HSBC Life. For monetary disputes arising between HSBC and you out of the selling process or processing of the related transaction, HSBC will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the product should be resolved between HSBC Life and you directly. For details and information about HSBC Life products, please visit the insurance-related pages at HSBC’s website or visit our branch.
All the information in the article is updated as of October 2021
Issued by HSBC Life (International) Limited (Incorporated in Bermuda with limited liability)
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